Payment methods are among the top things players consider when choosing casinos. They want reliable and fast options that do not charge exorbitant fees. And in the Phillippines, this preference could not be clearer, as there is an evident pattern among players. We look at the top payment options and why they appeal to casino players:
What Payment Options Work Best for Philippine Players?
While reputation, game variety, user interface, and live chat options matter to players, few of these factors come close to the importance of timely payments. After all, players want to make deposits and withdrawals without worrying about lags or unnecessary costs. So, which options take the cake?
1. GCash
Statistics show that over 90% of the world’s population owns a mobile phone. As a result, many companies have developed mobile payment solutions that allow people to transact fiat currencies without handling any cash. In the Phillippines, GCash has stolen players’ hearts as they can make deposits in the best online casino Philippines GCash and cash out without going to the bank. But what makes this option so popular?
- Speed: GCash payments are immediate and reflect within seconds. So, when a player initiates a withdrawal and gets confirmation from the casino, they also get a GCash text showing the receipt of funds.
- Costs: Players do not incur costs to receive money from online casinos. Instead, they only pay service fees to send money based on a percentage of the amount. As such, the costs are scalable.
The security of payments is also outstanding. All GCash users get unique PINs to access their accounts. GCash also implements several security measures to ensure users do not fall victim to scams.
2. Cryptocurrencies
While fiat currencies are common in the Philippines, a growing number of players prefer using cryptocurrencies. After all, the legal framework supports cryptocurrency transactions even though it does not consider crypto coins as legal tender. Thanks to this loophole, many players now own and transact these coins for the following advantages:
- Speed: While the transactions may not be as immediate as GCash payments, they usually reflect within minutes. Once a player initiates the payment to the crypto address in the casino or from the casino to their crypto wallet, they can expect confirmation within minutes.
- Costs: Cryptocurrencies do not have intermediaries, as the transactions are from wallet to wallet. As a result, players do not have to pay for the service. Many casinos allow players to transact at no or minimal costs, which helps them hold on to more of their earnings.
Aside from low costs and fast speeds, these currencies rank high in their security features. The transactions occur in a vacuum and are immutable, so cybercriminals cannot intercept them. As a bonus, using cryptocurrencies helps players safeguard their financial data as they will not reveal their bank details.
3. Card Payments
Some players enjoy loading their accounts once every few days or weekly. The ideal waiting period for deposits and withdrawals for such players can be a few hours to days. As such, there is a large number of players who opt to use credit or debit cards for their casino payments, as they get the following benefits:
- Speed: In the past, card payments would take even more than five days to reflect. But most cards now have instantaneous payments that show within minutes, while others have a waiting period of a few hours. Many players find this waiting time convenient and have no qualms about it as it aligns with their playing schedule.
- Costs: Most banks charge low commissions on cards, making it easy for players to enjoy several transactions without spending much money.
Security is another key reason why many players still use their cards. Most card providers have instituted several measures to protect their customers, e.g., two-factor authentication, tokenization, and card limits. It is thus much easier for players to protect themselves from getting hacked, especially when using casinos with secure payment gateways.
4. E-Wallets
What if there was a cross between wire transfers and card payments that made it easier to access money from casinos? Well, there is! E-wallets are online platforms that enable players to load money into casinos with their cards but without linking their cards to the casino. For example, a player can link their card to the e-wallet and then use the e-wallet login details to make a deposit in the casino. They would also receive money through the e-wallet before channelling it to their bank account. It thus serves as an in-between and addresses the financial privacy concerns of using a card on the casino site.
Here are e-wallet advantages:
- Speed: These payments are instantaneous. Even if a player does not have money in their card, most e-wallet platforms offer payment options (e.g., pay later) that allow players to keep making deposits.
- Costs: E-wallets charge a commission on the amount transacted, allowing players to scale their costs per their deposits and withdrawals.
Of course, the security is also top-notch if a player is using a secure e-wallet. They can also enjoy added financial privacy as their bank cannot link their card to the casino, making securing loans and other financial benefits much more accessible.